Researchers expect smart grid market to remain strong
SUBNET Solutions Inc | Monday, December 05, 2011
On December 2, research and consulting firm Frost and Sullivan announced that the market for smart grid developments is expected to continue along its strong course, with a growth rate of 59.7 percent in 2010, surging to $23.97 billion.
Researchers found that currently, growth has peaked, but has stabilized with a compound annual growth rate of 26.6 percent between 2010 and 2017, compared to the average U.S. economic growth rate of 3 percent.
Principal consultant Farah Saeed stated the growth is due to continuous and strong demand for distribution grid management, including substation automation and distribution automation equipment and services.
According to Smart Grid News, the report will likely be good news to vendors of the smart grid and other investors, as it indicates that the growth rate of the North American smart grid continues to be robust.
The initial report also suggested that although great strides have been made, more work must be done to deploy a truly intelligent grid.
SUBNET, a solutions provider that offers utilities expertise in remote access and substation automation, is helping to drive utilities toward a more efficient, safer electric grid.
Substation Automation & Remote Access